What are the important dates that I should know in Taxation?


(Last Updated On: November 12, 2016)

If you want to be tax friendly and want to save some taxes, it is important to keep a track on all important tax dates and plan accordingly. Only knowing the last date of filing Income Tax Return is not sufficient, there are many other key dates as well which one needs to mark on his calendar for a tax friendly year.

Bookmark the given below list of important dates and their explanation so that you can always stay one step ahead of the Income Tax Department!

Last Date for filing Income Tax Return:

31st July

For individual tax filers and salaried employees

For F.Y. 2015-16, the last date for filing Income tax return is 31st July 2016.

30th September

For Corporate/any other tax return that requires an audit u/s 44AB/If you are a partner in a firm that requires an audit u/s 44AB

For F.Y. 2015-16, the last date for filing Income tax return is 30th September 2016.

Last Date for filing Revised Income Tax Return:

31st March 2017

The return for F.Y. 2014-15 can be filed up to 31st March 2017

Due dates for Instalment of Advance Tax

For Non-Corporate Assessee

15th September

30% of the Assessed Income

15th December

60% of the Assessed Income

15th March

100% of the Assessed Income

Due Dates for TDS Payment

Due Date for TDS payment in case of Govt. Assessee

7TH of Next month

Tax deposited with Challan

Same day

Tax deposited without Challan

Due Date for TDS payment in case of Non-Govt. Assessee

30th April

Tax deductible in March

7th of next month

Other months and Tax opted to be deposited by the employer.

Due date for Quarterly payment of TDS as permitted under Section 192, 194A, 194D or 194H

7th July

For Quarter ending 30th June

7th October

For Quarter ending 30th September

7th January

For Quarter ending 31th December

30th April

For Quarter ending 31st March

Note*: Under section 192(1A), the payment has to be made within seven days (7 days) of the last day of the month in which the deduction is made or income-tax is due.

Due Dates for TDS/TCS Return

Due date for submission of quarterly TDS return ( Form 24Q & 26Q & Form 27Q)

Govt. Deductors

31th July

For Quarter ending 30th June

Form 24Q is for Return of TDS details on Salary Payments.

31th October

For Quarter ending 30th September

Form 26Q for Return of TDS details on Other than Salary Payments (Domestic).

31th January

For Quarter ending 31th December

Form 27Q is also for Return of TDS details on Other than Salary Payments (NRI/Foreign).

15th May

For Quarter ending 31st March

Due date for submission of quarterly TDS return ( Form 24Q &Form26Q & Form 26EQ & Form 27Q )

Other Deductors

15th July

For Quarter ending 30th June

Form 24Q is for Return of TDS details on Salary Payments.

15th October

For Quarter ending 30th September

Form 26Q for Return of TDS details on Other than Salary Payments (Domestic).

15th January

For Quarter ending 31th December

Form 27EQ is for TCS returns.

15th May

For Quarter ending 31st March

Form 27Q is also for Return of TDS details on Other than Salary Payments (NRI/Foreign).

Note*: Due dates for Form 27EQ is same for Both Government Deductors and other Deductors.

Due Date to issue TDS Certificates

Due Dates to issue TDS certificates (Form 16)

31st May

Form 16 is of Salary

For F.Y. 2015-16, the last date for issuing TDS Certificate is 31st May 2016.

Due Dates to issue TDS /TCS certificates (Form 16A & Form 27D)

Govt. Employees

15th August

For Quarter ending 30th June

Form 27 D is Tax Collection Certificate(TCS)

15th November

For Quarter ending 30th September

Form 16 A is for TDS deducted on Income other than salary

15thFeburary

For Quarter ending 31th December

30th May

For Quarter ending 31st March

Note*: Form 16 A & Form 27D is issued within 15 days from the date of furnishing the TDS return

Due Dates to issue TDS/TCS certificates (Form 16A & Form 27D)

Non Govt. Offices

30th July

For Quarter ending 30th June

Form 27 D is Tax Collection Certificate(TCS)

30th October

For Quarter ending 30th September

Form 16 A is for TDS deducted on Income other than salary

30th January

For Quarter ending 31th December

30th May

For Quarter ending 31st March

Author


Team Tax2Win